Page 8 - REIWA.com Market Update / June Quarter 2017

PERTH METRO REGIONSALES (PRELIM)HOUSESThe median house price in the Perth Metro region contracted by 2.9 per cent during the June 2017 quarter to $500,000. A total of 4,000 house transactions have settled for the quarter so far and reiwa.com data suggests the nal settled gure will trend closer to 6,000. This would represent a marginal two per cent decrease in transactional activity against the March 2017 quarter’s 6,122.4,000Early Landgate data suggests houses that sold at a price of $1 million or more accounted for 9.4 per cent of transactions. In contrast, approximately a quarter of all house transactions were sold at or below $410,000. The majority of all house sales (50.8 per cent of transactions) occurred between $350,000 and $600,000.SALES PERCENTAGE CHANGE QTR-28.4%UPPER QUARTILEOn 30 June 2017, there were a total of 8,506 houses listed for sale on reiwa.com. Of all house listings on reiwa.com, it took an average of 68 days to sell by private treaty, which is one day less than it took during the prior quarter.$675kMEDIAN (PRELIM)$500k55 per cent of sellers discounted their property during the June 2017 quarter and sold at an average discount of 6.7 per cent from their original listed price.Source: Landgate/REIWA ©LOWER QUARTILE$400kPERTH METRO HOUSE SALES PRICE DISTRIBUTIONQRTLY CHANGE IN ANNUAL MEDIAN-2.9%Up to $200,000 $200 - $300,000 $300 - $350,000 $350 - $400,000 $400 - $450,000 $450 - $500,000 $500 - $550,000 $550 - $600,000 $600 - $650,000 $650 - $700,000 $700 - $800,000 $800 - $900,000 $900 - $1 million $1 - $1.5 million Over $1.5 million0% 2% 4% 6% 8% 10% 12% 14%March Qtr 2017June Qtr 2017PERTH METRO REGION HOUSING MARKETSource: Landgate/REIWA ©$580,000 $560,000 $540,000 $520,000 $500,000 $480,000 $460,000 $440,00010 Year Average Sales10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0House Sales (RHS)Median House Price (LHS)8 | REIWA.COMMARKETUPDATE | JuneQuarter2017Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017